ORIX USA’s Real Estate Investment Strategies group announced the closing of a $24.6 million first mortgage bridge loan to support Blue Vista Capital Management and Family Development in refinancing the current construction loan and facilitating the stabilization of Town Arlington located in Arlington, TX.
“We are delighted to partner with Blue Vista and Family Development to support the stabilization of Town Arlington, a best-in-class community located in a mature residential area with high median incomes and strong, sustained demand drivers,” said Stephen Klufas, Managing Director, ORIX USA.
Town Arlington is a 135-unit townhouse-style multifamily community that was completed in April 2023 and is currently 90.4% occupied. Community amenities include a swimming pool and spa, parks, private front courtyards, and gated access.